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The cheapest stock brokers in Australia (Apr 2024)

The cheapest share trading platforms in the market offer free brokerage, low foreign exchange fees and no ongoing account fees.

Saving money on brokerage fees can be an important way to get ahead when investing. Not only can high fees erode some of your returns, it also means you can invest less money.

Cheapest share trading platforms: Top picks

According to Finder's latest analysis of brokerage fees, inactivity fees and foreign exchange fees, the cheapest brokers in Australia are:

  1. IG
  2. eToro
  3. CMC Invest
  4. Superhero
  5. Stake

IG was rated our best low-cost broker in Finder's latest Share Trading Awards because it offers low overall fees across different investment strategies, whether you're an active or passive trader of global or local stocks.

For ASX stock trading, eToro offers the cheapest brokerage at the time of writing (Feb 2024) at $0 per trade followed by Stake and Moomoo at $3 per trade. CMC is also a top contender, charging $0 brokerage for ASX trades of $1,000 or less.

When it comes to trading global and US stocks, there are several brokers in Australia with a $0 brokerage offering, including CMC Invest, IG, eToro, Superhero, Bendigo Invest Direct and Douugh.

Meanwhile, for Australian ETFs, Superhero and Vanguard offer the lowest fees, charging a flat $0 brokerage fee for ETF investments (buy orders only).

Compare online brokers to find the best deal

1 - 7 of 36
Name Product Price per trade Inactivity fee Asset class International Offer
eToro
Finder AwardExclusive
eToro
$0
US$10 per month if there’s been no log-in for 12 months
ASX shares, Global shares, US shares, ETFs
Yes
Get 12 months of investment tracking app Delta PRO for free when you fund your eToro account (T&Cs apply).
Moomoo Share Trading
US$0.99
$0
ASX shares, Global shares, US shares, ETFs
Yes
Finder exclusive: Get an additional 30 days on top of the regular brokerage-free period for new accounts. T&Cs apply.
Spaceship US Investing
US$0
$0
US shares, ETFs
Yes
Tiger Brokers
US$2
$0
ASX shares, Global shares, US shares, ETFs
Yes
Finder exclusive: Get 10 no-brokerage US or ASX market trades in the first 180 days + 7% p.a. on uninvested cash + US$30 TSLA & US$30 NVDA shares with deposits up to AU$2,000. T&Cs apply.
CMC Invest
Finder Award
CMC Invest
$0
$0
ASX shares, Global shares, Options trading, US shares, ETFs
Yes
$0 brokerage on US, UK, Canadian and Japanese markets (FX spreads apply).
Webull
US$0.25
$0
ASX shares, Global shares, Options trading, US shares, ETFs
Yes
Sign up & deposit $200 to get $100 of rewards value, or deposit $1,000 to get $200 worth. Up to $5,450 value available. T&Cs apply.
Saxo Invested
US$1
$0
ASX shares, Global shares, Options trading, US shares, ETFs
Yes
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Important: The standard brokerage fee displayed is the trade cost for new customers to purchase $1,000 of either Australian or US shares. Where a platform charges different fees for both US and Australian shares we show the lower of the two. Where both CHESS sponsored and custodian shares are offered, we display the cheapest option.

Australia's cheapest online stock brokers

IG Share Trading logo
5/5 ★★★★★
Similar platforms Read review
Capital at risk
Practice with $20K virtual money
Access to educational content hub
Trade shares, forex & commodities
IG gets the top score for our best overall low-cost broker thanks to its cheap brokerage, low platform fees and low inactivity fees. In the latest Share Trading Finder Awards, it recieved the highest average score for costs across all investment strategies, including casual and active investing, small and large trade sizes and ASX vs global investing. Along with high-quality trading tools and a range of global markets, this makes IG a great all-round trading platform.
  • Brokerage for ASX stocks from $5
  • $0 brokerage for US and global stock trades
  • Low currency conversion fee
  • No inactivity fee
  • ASX brokerage jumps to $8 if you make less than 3 trades a month
  • Appeals more to active traders than casual or new investors
  • Fewer global markets than some other brokers
Brokerage fee per trade:
AU stocks: $5 or 0.05% if you make 3 or more trades in the previous month. $8 or 0.1% of your trade (whichever is higher)
US stocks: US$0
UK stocks: £0
Other markets available: Details here

ETF brokerage fees:
AU ETFs: $5 or 0.05% if you make 3 or more trades in the previous month. $8 or 0.1% of your trade (whichever is higher)
US ETFs: US$0
UK ETFs: £0
Other markets available: Details here

Inactivity fee: if you make fewer than 3 trades during that time.

Currency conversion fee: 0.70% of trade value

eToro logo
4/5 ★★★★★
Go to site Read review
Capital at risk
Copy trading
Social media forums
Demo account available
eToro is the first trading platform to offer unconditional $0 brokerage ASX stock trades. Combined with $0 brokerage US and global stock trades, that makes eToro the cheapest broker out there on stock commission fees alone.
  • $0 brokerage ASX and global stock trades
  • Easy-to-use platform
  • Plenty of tools to try out
  • Inactivity fee of $10 a month if you don't log in for 12 months
  • No ASX ETFs available
  • $5 withdrawal fee
  • Offers CFDs which can be risky
Brokerage fee per trade:
AU stocks: $0
US stock: US$0
UK stocks: £0
Inactivity fee: USD$10 per month if you don't log in for 12 months or more
Currency conversion fee: 0.50% of trade value

CMC Invest logo
5/5 ★★★★★
Go to site Read review
Capital at risk
$0 brokerage for global stocks
$0 brokerage on ASX buy orders
Sophisticated research tools
CMC Invest lets you trade a bunch of financial products for less. Its competitive fees and high-quality trading tools are a major contributor to why it won Finder's award for best overall broker. When trading $1,000 or less on the ASX, CMC is the cheapest CHESS-sponsored broker, offering $0 commission CHESS-sponsored shares and ETFs.
  • $0 brokerage fees on ASX purchases under $1,000
  • $0 brokerage on US, Canada, Japan and UK stocks
  • High-quality research tools
  • CHESS-sponsored ASX stocks
  • Only 4 global markets are commission-free to trade, others cost $59 in brokerage
  • ASX stock brokerage not the cheapest out there
Brokerage fees:
AU stocks: $0 brokerage (for buy orders up to $1,000) and $11 or 0.10% (whichever is greater) for all other buy and sell orders.
US stocks: US$0
UK stocks: £0

ETF brokerage fees:
AU ETFs: $0 brokerage for trades up to $1,000 (applied to the first buy order per ETF per day). $11 fee for trades up to $10,000. $15 fee for trades equal to or greater than $15,000.
US ETFs: US$0

Options:
ASX: $33/contract
US: Not available
Other markets available: Details here

Inactivity fee: $0

Currency conversion fee: 0.60% of trade value

Superhero share trading logo
4/5 ★★★★★
Go to site Read review
Capital at risk
Flat $5 fee per trade
$0 brokerage for Australian ETFs
No monthly fees
Coming to market in 2021, Superhero said it would offer cheap brokerage and user-friendly features. The platform allows you to trade US markets for $0 brokerage and $5 for Australian markets, although it works using a custodial model (no CHESS sponsorship). It helps retail investors in 3 main ways: it lets them start from $10, offers $0 brokerage on ETF purchases and has no monthly account-keeping or inactivity fees.
  • Low brokerage on ASX and US stocks
  • Lets you start trading from $10
  • $0 brokerage fees on ETF purchases
  • Only lets you trade the US and Australian markets
  • Few trading tools
  • Too basic for advanced traders
Brokerage fees:
AU stocks: $5
US stocks: US$0
UK stocks: Not available

ETF brokerage fees:
AU ETFs: $0 brokerage on buy orders, $5 on sell orders
US ETFs: US$0

Inactivity fee: $0

Currency conversion fee: 70 pips (US$0.70 for every AU$100 exchanged)

Stake Share Trading logo
4/5 ★★★★★
Similar platforms Read review
Capital at risk
$3 brokerage fee per trade
No monthly fees for basic account
Buy and sell US stocks and ETFs
Stake came to market with the plan of introducing cheap brokerage to Australia and it has done just that. Stake allows you to cheaply and easily access the US and Australian markets. It offers the lowest CHESS-sponsored ASX trades on the market at $3 in brokerage per trade. While its US trade fees are no longer the lowest out there at US$3 commission per trade, it remains one of Australia's cheapest brokers.
  • $3 brokerage on US trades
  • $3 CHESS-sponsored ASX trades
  • No inactivity fees
  • Limited features
  • You have to pay more for Stake Black
  • Only 2 markets available
Brokerage fees:
AU stocks: $3
US stocks: US$3
Other markets: Details here

ETF brokerage fees:
AU ETFs: $3
US ETFs: US$3

Inactivity fee: $0

Currency conversion fee: 70 pips (US$0.70 for every AUD$100 exchanged)

Methodology: How do we rate Australia's cheapest brokers?

We compared the fees charged by 40 online share trading platforms in Finder's latest Awards and Best Investment Platform update. As part of our analysis, we ranked trading platforms based on:

  • Brokerage fees to trade ASX stocks
  • Brokerage fees to trade US stocks
  • Brokerage fees to trade European stocks
  • Brokerage fees for Australian ETFs
  • Foreign exchange fees to trade global stocks
  • Inactivity fees
  • Custody fees

For more information about our methodology, head to our share trading platform ratings page. Bear in mind that the brokers displayed on this page may not always be best for you and we encourage you to do your own research.

Why you can trust Finder's share trading experts

free

We're free

Our comparison tables are completely free to use. We link you directly to the brokers' secure application page. On a regular basis, we update the fees and conditions of all share trading platforms in our database.
expert advice

We're experts

We've researched and rated 40+ trading platforms and brokers as part of our Finder Awards. We've published 100+ guides, and our in-house experts regularly appear on Sunrise, 7News, and SBS News.
independent

We're independent

Unlike other comparison sites, we're not owned by a bank, insurer, or broker. That means our opinions are our own, and you can compare nearly every share trading platform and broker in Australia on Finder.
help

We're here to help

Since 2016, we've helped over 300,000 Australians find the right stockbroking account by comparing fees and account features. We'll never ask for your personal information. We're here to help you make a decision.

Fees play a critical role in determining an investment's long-term returns. High fees, like those associated with actively managed funds, will eat into an investor's profits and erode the value of their portfolio over time. Most investors should just focus on low-cost, passive investment strategies, such as index funds or ETFs, that offer broad market exposure at a fraction of the cost of actively managed funds.

Chris Brycki

Chris Brycki
Founder, Stockspot

Icon to represent comparison of share trading
Did you know?
You could save $1,046 a year on average in brokerage fees by switching to a more suitable online broker, according to Finder research. You might even save money by having more than one platform, especially if you are investing both in Australia and internationally.

What are brokerage fees?

A brokerage fee (also called commission) is what your stockbroker charges whenever you buy or sell a share.

Basically, you'll need to pay a specific amount to the broker in return for using its service.

This fee is based on the size or value of the trade. It could be a flat fee or an amount calculated as a percentage of the transaction value. The fee is charged both when you buy and sell a share.

Brokerage fees are one of the largest expenses associated with online share trading and can have a big impact on the affordability of your investments.

If you're a frequent trader and you're paying a brokerage fee of $30 every time you buy or sell a parcel of shares, this can quickly add up to a substantial amount and eat away at your trading profits.

That's why it's essential for anyone thinking of getting started in the share market to compare brokerage fees charged by online share trading platforms and shop around for the cheapest option.

How much will you need to pay for stock brokerage?

Brokerage fees are far from identical from one provider to the next, so comparing fees is important.

Brokerage can range from $0 to $30 per trade for online share trading platforms.

Full-service brokers such as Morgans or Morgan Stanley start fees at around $80 per trade, usually charged as a percentage of the amount being traded.

Some providers have simple fee structures and others have quite complex arrangements. Brokers calculate fees using the size or value of the trade, how often you trade and in which country the stocks are listed.

Different brokerage fees often apply to phone trades and other unique trading options, so it's worth reading the fine print to find out how much extra it will cost every time you make a trade.

Free trading platforms in Australia*

While share trading platforms haven't reached the lows of some other countries, there is an emergence of "free" brokerage offers in Australia. However, although you don't need to pay a commission, this doesn't mean they're free.

Instead, you're typically charged a foreign exchange fee (global stocks only) to convert Australian dollars to the required global currency. Other fees you could be charged include account maintenance fees, account top-up fees, inactivity fees or fees to trade other types of products on the platform.

Here's our list of "free" trading platforms at the time of writing:

*Free in this case refers to brokerage or commission fees (T&Cs apply).

Trading platform deals for Apr 2024 (T&Cs apply)

PlatformDeal informationEnd date
WebullSign up & deposit $200 to get $100 of rewards value, or deposit $1,000 to get $200 worth. Up to $5,450 value available. T&Cs apply.29 April 2024
Tiger BrokersFinder exclusive: Get 10 no-brokerage US or ASX market trades in the first 180 days + 7% p.a. on uninvested cash + US$30 TSLA & US$30 NVDA shares with deposits up to AU$2,000. T&Cs apply.30 April 2024
moomooFinder exclusive: Get an additional 30 days on top of the regular brokerage-free period for new accounts. T&Cs apply.Ongoing
SyfeFinder exclusive: All Finder customers get a $60 cash credit when they sign up to Syfe, deposit minimum $1,000 and use code FINDER60 (T&Cs apply).Ongoing
nabtradeSign up with a nabtrade account using the promo code PROF1000 and get up to $1,000 in free brokerage.Ongoing
StakeRefer a friend to Stake and get $1 off your brokerage fees for 12 months. Refer 3 friends and pay $0 brokerage fees.Ongoing
Saxo Invested Options TradingRefer a friend to Saxo and receive up to $500 in rewards. If you reward a customer who initially funds between $3,000 and 300,000 you will get $100, if they fund their account with $300,000 to 1.5 million you’ll get $200 and if they deposit $1.5 million or more you’ll get $500.Ongoing
CMC InvestBuy 1 Australian share for less than $1,000 and pay $0 in brokerage. This deal is limited to 1 trade per day.Ongoing

Tips for finding the cheapest share trading platform

If you're looking to find the cheapest share trading platform there are a few things you'll need to consider. Of course, it all comes down to how you're intending to use it.

Here are some of the key features to look at when comparing online share trading platforms:

  • Fees. Almost every platform will charge you a brokerage fee (also called a commission fee) when you transact. Generally, the lower the fee if it fits your needs the better.
  • Other fees. Some will also charge you additional fees such as monthly fees or inactivity fees. To see more about fees click here.
  • What can you trade? There's no point saving on fees if you're missing out on investing where you want. Some trading platforms will let you invest in multiple countries, others just Australia. There are also trade currencies, indices, cryptocurrencies and much more to consider. Find a broker that matches your needs.
  • Ease of use. Again saving money isn't useful if the app is difficult to use. You should look for a platform that allows you to make fast and precise trades with minimum fuss.
  • Access to data. Does the platform offer dynamic, real-time or delayed market updates? Some platforms offer research and broker analysis on individual stocks that can come in handy.
  • Order types. Can you place orders at market and/or at limit? Are other order types such as stop/loss orders an option to add more flexibility to your trading? These should be considered when choosing a broker.
  • Reporting. Check the reporting tools on each platform to help you track how your trades are performing, record dividends and pass on any relevant information to the Australian Taxation Office (ATO) at tax time.
  • Customer support. Look for phone, email and live online chat support. Does it offer customer service 24/7 if you're having trouble placing a trade?
  • Education. Some platforms also feature a range of educational tools and resources, such as how-to guides and webinars, to help you get more out of your trading account. If you haven't got access to the education you need through your broker it can become an additional cost, so keep that in mind.

Frequently asked questions

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involve substantial risk of loss and therefore are not appropriate for all investors. Past performance is not an indication of future results. Consider your own circumstances and obtain your own advice before making any trades.

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10 Responses

    Default Gravatar
    CateJuly 11, 2023

    I’m trying to compare ways/costs of selling deceased estate shares, is this something you have looked into ?

      AvatarFinder
      KylieJuly 14, 2023Finder

      Hi Cate,
      Selling inherited shares can be complicated and depending on the circumstances you may want to speak to a financial advisor. However, if you’re looking for some general information, you can read our guide to selling shares: https://www.finder.com.au/how-to-sell-shares. In most circumstances, the shares will be registered with a share registry such as Computershare and you can contact them to discuss the sale or transfer of your shares to another broker. You can check which registry by searching for the stock on the ASX website and scrolling down to the ‘Share registry’ section.
      Good luck.

    Default Gravatar
    DaveJuly 10, 2019

    Your info on IG about fees is slightly incorrect. You quote 0 monthly fees however you should also advise potential customers that IG now charge $50 a quarter if you make no trades.

      AvatarFinder
      JoshuaJuly 11, 2019Finder

      Hi Dave,

      Thanks for getting in touch with Finder.

      I’m sorry to hear about your experience with IG. Upon checking, I have confirmed that there’s a $50 subscription fee that you need to pay quarterly depending on your trading activity during the same quarter.

      However, you can easily be exempted from the charge, if you do deal at least three times using your share trading or CFD accounts during the same quarter. Alternatively, if you hold no open positions in your share trading account at the end of the quarter, then you won’t get charged as well.

      You may know more about IG by getting in touch with them or reviewing your terms and conditions.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    ThereseFebruary 7, 2019

    Can I start in share market with a small budget of AU$10000 and which broker would accept me?

      AvatarFinder
      JoshuaFebruary 17, 2019Finder

      Hi Therese,

      Thanks for getting in touch with Finder. I hope all is well with you. :)

      Yes, you can start trading with that budget. In most cases, you only need about $500 to start share trading.

      Regarding your second question, the right broker for you is the one that meets your preferences, needs, and budget. You can choose a broker based on your trading knowledge and experience, the markets you can access, the fees involved, trading sources, and customer service. You can learn more about this from our guide to open a share trading account. On that page, you will how to open a share trading account and other helpful tips. It’s a good guide to read for beginners.

      I hope this helps. Should you have further questions, please don’t hesitate to reach out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    JimiAugust 28, 2018

    As a small investor with an vestment less than (10k) ,What is the cheapest platform to buy stock and hold them for 3 years?

    Most platform overhear will have a quarterly $50 dollar inactivity fee , in addition to the Broker fee ( IG is one example )!

      AvatarFinder
      JoshuaAugust 29, 2018Finder

      Hi Jimi,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Generally, most share trading platforms come with inactivity fees. This encourages users to stay actively using their account or motivate them to close their account instead of taking up the platform’s resources.

      While we don’t have a page that specifically lists share trading platforms that don’t charge inactivity, you may still check our list on this page. You will find inexpensive stock trading platforms that might be able to meet your needs. Click on the “Go to site” green button of your desired provider and it should redirect you to their site. From there, you can know more about whether they charge inactivity or not.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    JonskiOctober 19, 2017

    Hi, i’m a full time uni student with less than $5k to invest in stocks. After reading countless articles looking for the best or most suitable broker to trade aus/us stocks, i’m still undecided. Could you please give me some advice?

      Default Gravatar
      LiezlOctober 20, 2017

      Hi Jonski,

      Thanks for reaching out.

      When choosing a share trading platform, you can start by comparing the commission fees, availability of advise and research options, integration with bank accounts, and access to other markets. You may refer to our guides on how to choose a good stockbroker and platforms for beginners for more helpful information.

      Cheers,
      Liezl

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